Hello Cyborgs! We’ve been teasing our new release for several weeks and as the launch date approaches, it’s now time to detail what we’ve been cooking for the past couple months. The Non Fungible Cyborg platform is not a DEX nor a Yield App but an extremely powerful DeFi tool for Cronos NFTs. The backbone of Cyborg Corp. is, of course, CyborgSwap DEX on which all the NFC LPs will be formed, but our new platform will be the NFT dedicated part of our ecosystem. The NFC platform will be divided into 3 main parts: an NFT incubator & Launchpad, an NFT staking feature and most importantly, the first NFT Swap on Cronos!
THE NFT SWAP FEATURE
The NFT swap is the most interesting feature of the platform and its very core. As you Cyborgs already know, NFTs have been the DNA of Cyborg Corp. since the beginning of our Cronos journey. That’s why we always tried to innovate and improve our Dex with new NFT related features. Over time and with all the experience we gained in the Cronos NFT world, we’ve realized that the biggest problem for most people was to be able to sell their NFTs when needed. Even though we can enjoy having some incredible NFT marketplaces on Cronos such as our friends at Ebisu’s Bay, there is a major issue that often pops up when needing to sell NFTs (especially in large quantities): a lack of liquidity. Oftentimes, you must be willing to sell for less than the value of the NFT and it can be even more difficult for rare NFT holders if you don’t list them at floor price. This happens because all the NFT marketplaces work like Centralized Exchanges in that you need your sell order to match a buy order in the marketplace order book…
We, the Cyborg Corp. core team members, have been passionate about Automatic Market Makers (AMM) since the early stages of Defi in 2020, and are crazy about decentralization since we fell into cryptocurrencies back in 2017. Thus, it was natural for us to create the first NFT Swap on Cronos and as we like to call it, the first true NFT AMM! The concept is simple: many Liquidity Pools will be opened on NFC for major NFT collections. The NFTs will be paired with $NFC which is the main token of the Non Fungible Cyborg ecosystem and we will encourage users to add liquidity to the pools by rewarding them with $NFC tokens. Everybody will then be able to instantly buy and sell NFTs from the collections listed in the pools. This is possible because a price will be fixed for these NFTs by the AMM which will not be the floor price of the collection on the marketplaces.
Read all about the NFC Swap Feature in this article.
THE NFT STAKING FEATURE
The NFC staking feature will be the most ambitious NFT staking platform of the Cronos chain so far. Almost all the Cronos NFT collections will be listed and available for staking. In these native pools you’ll be rewarded with $NFC. Unlike the CNFT staking platform, we won’t use the DeFi traditional multiplier system to reward the pools but a new allocation based mechanism. We’ll divide the total $NFC rewards for stakers into slots so that each slot will be rewarded equally. One slot is one NFT staked. Project owners won’t be able to boost their reward multipliers like they did with CNFT, but they will be able to buy more slots for their collections so that their community can stake more NFTs on the Non Fungible Cyborg platform. The goal is to have almost all the Cronos NFT collections listed with a small slot allocation for an unlimited period of time so that every Cronos user can enjoy the benefits of the feature, no matter which project he invested in. However, the project’s owner will be able to increase their slot allocation by burning an amount of NFC tokens!
The share of the NFC emission allowed for the NFT staking pools will be pretty low in order to reduce the sell pressure (to maintain juicy APRs in our native NFT staking pools, we chose to do everything possible to make the NFC price go up, instead of distributing more and more $NFC as rewards). Besides that we’ll also have custom NFT staking pools, designed to be filled by the project owners to reward their holders. These pools will be opened for a limited period of time and will be filled with any token of the Cronos Chain chosen by the projects.
You might now wonder what will happen to the CNFT staking feature. As you probably remember, the CNFT emissions are about to end in a few months. Until then it will continue to operate as usual and we will also hold some special NFT drops on CyborgSwap mintable through CNFT token like we did in the past. Once the emission stops, we have a big plan for CNFT which we’ll unveil by the end of the year.
Read all about the NFC Staking Feature in this article.
THE $NFC TOKEN
The $NFC token is the main token of the Non Fungible Cyborg ecosystem, but don’t get it wrong, this token will not be like the other Dex Tokens in DeFi. The main reason is that $NFC is not a DEX token but will be the « gas » of the NFC platform. Of course, the real gas will always be $CRO since we’re on Cronos but in order to perform any action on NFC, you’ll have to pay a small fee in $NFC, based on your Tier Level. No matter if you want to stake, unstake, or claim rewards from the LP Farms or the NFT staking pools, swap NFTs or simply harvest the pending rewards of your Tier pool, a small NFC fee has to be paid every time. In a way, $NFC token acts like the Layer 1 token of the Non Fungible Cyborg Blockchain! Besides that, the tokenomics that we’ll detail in a future article have been designed to reduce $NFC inflation as much as possible. Most of the fees will be burned, the Tier Program (that we’ll also detail later) will lock many NFC for 6 months and every LP will be made with $NFC, not CRO or any other Cronos Chain coin. It means that in addition to the traditional CRO/NFC & USDC/NFC pairs, our coin will be paired with all the different NFTs to form the LPs allowing users to swap their Cronos NFT. For example, in order to be able to instantly swap a Meta Cyborg NFT, we’ll create a $CYBORG/$NFC liquidity pool, not a $CYBORG/$CRO LP.
Last but not least, no NFC will be on the market at listing, except for the initial liquidity of course! The team & development allocation will be vested for 5 years, the Presale allocation will be vested for 5 months and since there will be no Launchpad, at listing you’ll have to buy $NFC to use the platform (except with the starter pack). Thus nobody will be able to dump it. We designed the tokenomics so that the fees will cover the NFC emission for rewards and we do believe that if the Non Fungible Cyborg platform is used by many of us, our token will be deflationary from the start!
And for those who wonder what will happen with CBO, here is the good news: soon after the launch of the Non Fungible Cyborg ecosystem, we’ll stop the CBO emissions and change the masterchef of CyborgSwap to reward our Liquidity Provider with a new coin. We expect to raise more liquidity for our Dex this way. From that point, we’ll spend 10% of our NFC fees to buy back and burn our old coins until everything has been burned. We won’t stop until there are no more CBOs in circulation on Cronos! Of course, we’ll also keep burning CBO every week with Meta Cyborgs Royalties. Now might be a good time to hold on to your CBO, Cyborgs!
THE NFT COLLECTION
The Non Fungible Cyborg first NFT collection will be dropped on https://cyborgswap.io/nft-drop on 9/25/22 7PM UTC. This will be the last major NFT collection dropped on CyborgSwap DEX because after that our drops are going to be held on the NFC Incubator & Launchpad which we’ll detail in a future article. It’s gonna be pretty much like the NFT drop page that we already have on CyborgSwap, but we will be more selective about the projects and we are not only going to drop their collections, but we are going to help them every step of the way as a true incubator. We did it several times in the past and it was a success every time!
So the first goal of this 10,000 series is to raise money for the new platform (to build $NFC initial liquidity & Cronos NFT initial liquidity, to audit the new contracts & to pay the NFC listing on a CEX). However, that’s not the only interest of the drop. As always at Cyborg Corp., the utilities of the NFT collection will be plenty for our beloved holders. First of all, The Immortal Cyborgs collection will allow you to boost all NFC farms & pools rewards. Additionally, the Immortal Cyborgs will be the founding member collection of the platform. Thus holding a TIC NFT in your wallet will enable you to get a discounted price on every single NFC drop of the Launchpad & Incubator. Of course, exclusive staking pools will be opened so that you can get juicy rewards from farming with your NFTs.
The last perk of minting a TIC during the main sale is the NFC starter pack. As you already understood, we designed the $NFC token to be as deflationary as possible. In order to do that, we didn’t plan any launchpad or traditional presale for our coin. It means that no NFC tokens will be on the market at listing, except for the Initial Liquidity. The NFC starter pack which includes 25 $NFC will be airdropped at listing so that you can have gas to use the platform from the very beginning! Minting a TIC NFT during the presale (first 500 NFTs to be minted) will also entitle you to 500 $NFC in addition to the starter pack. These $NFC will be vested and airdropped every month to your wallet for 5 months.
Read all about the Immortal Cyborgs NFT collection in this article.
This concludes the overview of our newest addition to the Cyborg Corp. ecosystem. We really hope that you’ll like it, Cyborgs! Be sure that a lot of super exciting features currently in development will be implemented very soon on NFC, most likely before the end of the year. We are also working on a limit order system for NFTs, the NFT backed loans that we announced a few months ago and on a new Auction House where Cronos users can put their own NFTs on auction! You can see our roadmap on the NFC homepage. This is only the beginning of our NFT journey, as you’ll see! More than ever, the Cyborg Corp. team keeps building to offer the community the best DeFi and NFT experience on Cronos!